In case you didn’t know, there is a virus spanning the globe. Experts have issued guidelines that were taken up by Metrotex Realtors, and together they introduced safety protocols designed to protect buyers, sellers & real estate professionals. It’s not a whole new way of doing things, but there have been some adjustments.
Real estate saw some rough times from April, May, and into June. Sales were down considerably, but more affected was inventory. Fortunately, basic laws of supply-and-demand have kept sales prices moving upward, and interest rates have motivated buyers into stepping out of quarantine and buying a home.
Technology has never been more important in real estate. Along with great photography, 360 walkthrough technology, like Matterport photography, ensures even quarantined buyers can virtually tour a home. Protocol dictates that all real estate professionals wear masks and self-quarantine if they feel unwell. Personally, I leave masks at the front door of my listings along with hand sanitizer and a request that everyone disinfect when they’re entering and leaving.
Besides having very little to choose from, buyers are not as affected as you’d expect. Virtual showings – agents previewing a home while FaceTiming their buyers – are a lot more common.
Closings – normally my favorite part of the transaction – are now done remotely or in people’s cars… which stinks. Also, closings are often being delayed because virtually all the cogs in the real estate machine are operating below maximum efficiency. It’s an emotional market in 2020, and these delays do nothing to help, but with a little patience and perseverance, people are still moving down the road and realizing the American dream.